Business Owners or Retirees? Whats the better Pond?
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Where have you had better prospecting success over the last 5 years?
When you examine your progress ; should have focused only with business owners or current retirees?
Just curious?
Appointment vs. product...
Business vs. residential...
Cold Calling vs. door knocking...
Here is the secret formula...
It doesn't matter...
It all works...
If you work it long enough.
There are no shortcuts to the top.
OMO
Dashover, I think it depends on your area. Personally, in my area, we are not densely poulated, and there are anot a lot of wealthy business owners. Lots of little shop owners barely getting by. And most of the wealthier business owners are lifers in town that are wrapped up with the wirehouse lifers. I have had the most success with pre-retirees and early retirees from a few big employers in my area. They make good money and have a lot of tenure with their employers, so very large 401K and pension balances.
I find the successful advisors typically concentrate on 1 to 3 target markets, but there is no silver bullet answer to which prospects to focus on. On a related note, there are ten clear benefits to focusing on a niche… http://byrnesconsulting.com/2010/09/03/why-it-pays-to-focus-on-a-niche/
Mike Byrnes, President, Byrnes Consulting, LLC http://byrnesconsulting.com/ http://twitter.com/ByrnesConsultin
NIches only work for advisors who are already established...Other than that it is just a bunch of marketing bs